acquisitions and divestitures

The provider of subscription-based analytics services for the North American oil and gas sector continues its streak of purchasing data-focused firms.

The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.

The company will shell out more than $800 million to acquire interests in the Andrew and Shearwater areas, as well as the Tolmount field, offshore Scotland.

The latest move to consolidate the US shale sector will add 1,500 drilling locations to the buyer's portfolio. It also reflects that all-stock or mostly-stock deals are now the sector’s preferred acquisition vehicle.

The deal boosts Talos' 2019 production by 35%, helping the independent E&P company become one of the top 10 producers in the Gulf of Mexico.

Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.

The deal, first announced in May, gives the Delek subsidiary 10 additional producing field interests in the UK North Sea, boosting its 2019 production by 300%.

The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.

Heavy deal-making since 2015 by the two majors has resulted in very different upstream portfolios.

A month after it got out of Norway, Bloomberg reports that the company is working with advisers on a potential Malaysian sale, which could raise as much as $3 billion. ExxonMobil plans to divest around $15 billion in nonstrategic assets by 2021.